Bitfinex & Tether Find New Banking Partners
The Bitfinex cryptocurrency exchange and Tether affiliated with it, have new banking partners. Bitfinex has entered into a partnership agreement with the Hong Kong Bank of Communications, partly owned by the financial conglomerate HSBC Holdings, and Tether with Deltec Bank based in the Bahamas, the Block reports, citing informed sources.
The correspondent bank in the transfer of funds from the Bank of Communications to the United States is Citibank. Wells Fargo also performed the same role for Bitfinex partners in Taiwan. But then the financial institution refused to process bank transfers in American dollars. Then, the operator Bitfinex and Tether Ltd. filed for a bank in the California federal court, but then the exchange withdrew the lawsuit. As a result, Bitfinex was forced to look for new banking partners.
Bithumb Adheres to Expansion Plan – New DEX Is Officially Here
Bithumb, the leading South Korean crypto exchange, launched a decentralized trading platform DEX. This is probably part of the company's global expansion plan.
The “Free Transaction Fee” customer attraction event will allow users to trade on the platform without paying any commissions until November 15. However, users will still need to pay a commission (Gas) for ethereum transactions. On October 30, the exchange will also distribute 500 ETH (ETH/USD) among thousands of traders who must have a trading volume of at least 1 ETH for DENT, INS, POA20, RNT, WTC coins.
Binance Recruits Chainalysis to Fight Money Laundering
Binance cryptocurrency exchange implemented a compliance solution developed by the blockchain startup Chainalysis. A tool called Chainalysis KYT (know your transaction) will be used to monitor real-time transactions and identify criminal-related transfers, as well as combat money laundering.
Wei Zhou, the CFO at Binance, said that he expects this news to inspire other industry participants to combat the illegal use of cryptocurrency more actively.
"By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth. Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally while adhering to regulatory mandates in the countries we serve," he explained.
What Else:
- Biggest cryptocurrency exchange Binance had burned 1,643,986 BNB
- Coinbase opens trading for the first ERC-20 token on the platform: ZRX
- Ethereum Foundation launched the new wave of grants for startups and individual developers working on ethereum blockchain.
- Civil cancels its ICO, Blockchain-media startup will refund all money to all buyers of its token.
At 19:50 (GMT+1) total cryptocurrency market capitalization stands at $210.7 billion
Bitcoin (Bitcoin) $6598 (-0.63%)
Ethereum (ETH/USD) $207 (-0.94%)
XRP (XRP/USD) $0.46 (+1.59%)
Bitcoin Cash (Bitcoin.Cash) $448 (-1.69%)
EOS (EOS/USD) $5.40 (-0.71%)
Stellar (+7.73%) showed the best growth in the top-10
Odyssey (+38.18%) showed the best growth in the top-100
Market Dynamics
The trading volume of cryptocurrencies for 24 hours reached $12.5 (+0.2 billion per day)
Mining Profitability
BTC $2.36 for 10 TH/s ↗️
ETH $0.17 for 10 MH/s ⏸
BCH $0.22 for 1 TH/s ↗️
LTC $2.88 for 1 GH/s ↘️
DASH $0.07 for 1 GH/s ↘️
Click here for the list of ongoing ICOs and rating. Also, subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.